Calculate both Simple and Compound Interest easily. Compare different interest types and frequencies to make informed financial decisions.
Our Interest Calculator helps you understand how your money grows over time. Compare Simple Interest, which is calculated only on the principal amount, with Compound Interest, which is calculated on both principal and accumulated interest.
Simple Interest is calculated only on the principal amount. The formula is: SI = P × R × T, where P is Principal, R is annual interest rate (%), and T is time in years.
Compound Interest is calculated on both principal and accumulated interest. The formula is: A = P(1 + r/n)^(nt), where P is Principal, r is annual rate, n is compounding frequency, and t is time in years.
Higher compounding frequency (e.g., monthly vs. yearly) results in more interest earned over time because interest is calculated and added to the principal more frequently.
For investors/lenders, Compound Interest typically yields higher returns as it earns interest on previously earned interest. For borrowers, Simple Interest results in lower total payments.
Our calculator uses standard financial formulas and provides precise calculations for both Simple and Compound Interest. Results are rounded to 2 decimal places for clarity.
Enter your fixed deposit amount as principal, the annual interest rate, select quarterly compounding frequency, and your deposit term. Our calculator will show exact returns including the power of quarterly compounding.
For savings accounts with daily compounding, use our calculator with the daily compounding option. Enter your average balance as principal and your bank's annual interest rate to see how your money grows day by day.
Enter each fund's initial investment amount and historical return rate. Select annual compounding to compare long-term growth potential. Our calculator helps you see the difference in returns over your investment horizon.
APR (Annual Percentage Rate) is the simple interest rate per year, while APY (Annual Percentage Yield) accounts for compounding. Use our calculator to see how the same APR gives different yields based on compounding frequency.
Enter your current savings as principal, monthly contribution amount, expected return rate, and retirement timeline. Compare different compounding frequencies to see how to maximize your retirement nest egg.